4 years ago

OnBuy Secures £35 Million Series A+ Funding for Global Expansion

  • OnBuy.com, a Bournemouth UK-based online marketplace, has raised £35 million in Series A+ debt and equity funding

  • The investment round was led by Bring Ventures, Norway Post venture arm, Fuel Ventures, Guy Hands (founder and chairman of Terra Firma Capital Partners), Knut Frängsmyr (Deputy CEO of Klarna), and Richard Goulding (founder of Play.com)

  • The company plans to use the funds to expand its leadership team, further develop its product offering, and pursue global expansion

  • OnBuy.com has attracted over 7,000 retailers and hosts over 36 million products from various categories.

      • ProblemRetail

      "Online marketplaces often compete with their own sellers, leaving them with limited profit margins. This can discourage sellers from joining and limit the marketplace's growth."

      Solution

      "OnBuy is an online marketplace that operates on a 'level playing field,' meaning it does not compete with its sellers. This allows them to attract a larger number of sellers and offer a wider range of products, ultimately providing consumers with a more competitive and diverse shopping experience."

      Covered on